f demand is elastic, will shifts in supply have a larger effect on equilibrium q

ID: 1204838 • Letter: F

Question

f demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or on price?

If demand is inelastic, will shifts in supply have a larger effect on equilibrium price or on quantity?

If supply is elastic, will shifts in demand have a larger effect on equilibrium quantity or on price?

If supply is inelastic, will shifts in demand have a larger effect on equilibrium price or on quantity?

Would you usually expect elasticity of demand or supply to be higher in the short run or in the long run? Why?

A. Here, if demand is inelastic then it will shift in supply will have a large effect on price than on quantity.

B. When demand is inelastic, it will shift su[[ly will have a larger effect on quantity than on price.

C. When supply is elastic, it will shifts in demand have a larger effect on equilibrium quantity than on price.

D. When supply is inelastic,it will shifts demand have a larger effect on equilibrium price than on quantity.

E. We know that the tendency of elasticity is greater in long run. In the long run both price and quantity will be change over a time periode.

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.